Sam wants to file a petition for bankruptcy. Which of the following is true in this context?
A) Sam need not submit a list of creditors; it is obtained by the court upon investigation.
B) Sam's bankruptcy petition cannot be filed electronically.
C) Only Sam's attorney can file his bankruptcy petition.
D) Sam's attorney is liable for perjury if information filed by Sam is incorrect.
D
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The vertical analysis statement of Peterson, Inc is as shown below
Peterson, Inc Comparative Income Statement Years Ended December 31, 2017 and 2016 (In millions) 2017 Percent of Total 2016 Percent of Total Net Sales $6,355 100.0% $4,920 100.0% Cost of Goods Sold 3,370 53.0 2,200 44.7 Gross Profit 2,985 47.0 2,720 55.3 Operating Expenses: Selling Expenses 675 10.6 580 11.8 Administrative expenses 410 6.5 425 8.6 Total Operating Expenses 1,085 17.1 1,005 20.4 Operating Income 1,900 29.9 1,715 34.9 Other Revenues and (Expenses): Interest Revenue 0 0 0 0.0 Interest Expense (400 ) (6.3 ) (695 ) (14.1 ) Total Revenues and (Expenses) (400 ) (6.3 ) (695 ) (14.1 ) Income Before Income Taxes 1,500 23.6 1,020 20.7 Income Tax Expense 230 3.6 210 4.3 Net Income $1,270 20.0% $810 16.5% The 20% shown for net income in 2017 signifies that net income ________. A) is 20% of net sales revenues B) increased by 20% over the previous year C) is 20% of gross profit D) equals 20 times of the income before income tax
You order a pizza from a local pizza delivery company. When you bite into the pizza you break your tooth on a piece of metal baked into the crust. You hire a lawyer to represent you in your lawsuit against the pizza company to recover your medical expenses and for the pain and suffering you endured. Which of the following is true with respect to what fees your attorney can charge?
A. Your case is criminal so your attorney must take the case on a contingency fee basis as no other fee structure is permitted by the American Bar Association B. Your case is criminal so your attorney must be paid on an hourly basis at whatever hourly rate she charges for such cases as long as it is not unreasonable. C. Your case is civil so your attorney is prohibited from taking the case on a contingency fee basis and your attorney can only charge you a flat fee based on a rule of the American Bar Association D. Your case is civil so your attorney can take the case on a contingency fee basis or charge you an hourly fee for her services. E. Because this is a private lawsuit your lawyer can only charge you a fee if she wins the case for you based on regulations of the American Bar Association.